Citi MicroFinance

Resource Centers

CGAP
CGAP is a global resource center for microfinance standards, operational tools, training, and advisory services. Its 33 members including bilateral, multilateral, and private donors—are committed to building more inclusive financial systems for the poor.

Financial Access Initiative
The Financial Access Initiative is a consortium of leading development economists focused on substantially expanding access to quality financial services for low-income individuals.

Microfinance Gateway
The Microfinance Gateway (the Gateway) is a comprehensive source of information for and about the microfinance industry. It includes research and publications, discussion groups, specialized resource centers, organization and consultant profiles, and the latest news, events, and job opportunities in microfinance.

The Microfinance Information Exchange (MIX)
The Microfinance Information Exchange, Inc. (MIX) is the leading business information provider dedicated to strengthening the microfinance sector. MIX promotes financial transparency in the industry and helps building the information infrastructure in developing countries. This addresses a key challenge for the microfinance industry: the lack of reliable, comparable and publicly available information on the financial strength and performance of microfinance institutions as well as their social impact.

MicroInsurance Centre
The MicroInsurance Centre is an independent institution that is focused full time on actively promoting partnerships in microinsurance. In this model, MFIs (in the broadest sense) and other potential agents are linked with regulated insurance companies to provide professional insurance products to the low-income market, while maintaining the risk where it belongs – with a regulated insurer.

IDB Microfinance
IDB is the oldest and largest regional development bank. It is the main source of multilateral financing for economic, social and institutional development projects as well as trade and regional integration programs in Latin America and the Caribbean.

Appui aud Developpment Autonome Luxemburg
ADA is a non-profit organisation based in Luxembourg. Since 1994, ADA has been working with Microfinance Institutions (MFIs) by offering them a unique combination of financial support and customised technical services. Furthermore, its European Competence Centre includes a library and provides general and technical publications on topics related to the microfinance field.

MFI Networks and Service Providers

e-MFP
The European Microfinance Platform [e-MFP] was founded formally in 2006. e-MFP is a growing network of over 100 organisations and individuals active in the area of microfinance. Their principal objective is to promote co-operation amongst European microfinance bodies working in developing countries, by facilitating communication and the exchange of information.e-MFP is a multi-stakeholder organisation representative of the European microfinance community. e-MFP members include banks, financial institutions, government agencies, NGOs, consultancy firms, researchers and universities.

MFN
Microfinance Network (MFN) is an international association of microfinance institutions that operate on commercial principles in order to serve large volumes of clients who are not currently served by traditional financial institutions. MFN aims to provide its members with opportunities to learn from each other and seeks to become models of best practice in balancing financial and social goals.

ACCION
ACCION International is a private, nonprofit organization with the mission of giving people the financial tools they need – microenterprise loans, business training, and other financial services – to work their way out of poverty. A world pioneer in microfinance, ACCION was founded in 1961 and issued its first microloan in 1973 in Brazil. ACCION International's partner microfinance institutions today are providing loans as low as $100 to poor women and men entrepreneurs in 22 countries in Latin America, the Caribbean, Asia and sub-Saharan Africa, and in the U.S.

CAF Microfinance
CAF makes financial resources available to this sector, primarily through loans, guarantees and equity investments. It is also involved in institutional strengthening through technical assistance and training for microfinance institutions in the region. At the same time, CAF is an important advisor in microfinance for national Governments and regulatory authorities.

Grameen Foundation
Grameen Foundation, a global nonprofit organization, helps the world's poorest people access financial services and technology by providing financing, technology support and management strategies to the local organizations that serve them. It also spearheads technology initiatives that create new microbusiness opportunities for the poor, provide telecommunications access for the world's rural poor, and improve their access to health and agriculture information and other services. Founded in 1997, Grameen Foundation has offices in Washington, D.C. and Seattle, Washington.

FINCA
The mission of FINCA International is to provide financial services to the world's lowest-income entrepreneurs so they can create jobs, build assets, and improve their standard of living. It delivers these services through a global network of locally managed, self-supporting institutions.

Women's World Banking
Women's World Banking (WWB) supports a global network of more than 50 microfinance institutions and banks in 43 countries throughout Africa, Asia, Eastern Europe, Latin America and the Middle East, offering them a full menu of advisory services and veteran leadership in the mission to bring financial empowerment to poor women entrepreneurs.

Opportunity International
Opportunity International provides small business loans, savings, insurance and training to over a million people working their way out of poverty in the developing world. Clients in almost 30 countries use these financial services to start or expand a business, provide for their families, create jobs for their neighbors and build a safety net for the future.

WOCCU
World Council of Credit Unions, Inc. (WOCCU) is the international development agency and trade association for credit unions.

SEEP
SEEP's mission is to advance the practice of small and microenterprise development among members, their international partners, and other practitioners. In doing so, the Network provides a vehicle for the collective examination of agency experience from which emerges learning that advances the professional development of its members, increases program impact, fosters continuing methodological innovation, and informs the policy arena.

Microfinance Centre Warsaw
MFC is an international, grass-root network of 100 microfinance institutions from the region. MFC's mission is to contribute to poverty reduction and human potential development by promoting a socially oriented and sustainable microfinance sector that provides adequate financial and non-financial services to a large number of poor families and micro-entrepreneurs.

Sa-Dhan's
Sa-Dhan's mission is to build the field of community development finance in India, to help its member and associate institutions to better serve low income households, particularly women, in both rural and urban India, in their quest for establishing stable livelihoods and improving their quality of life.

ProDesarrollo
ProDesarrollo, Finanzas y Microempresa, A.C., is a Mexican network of microfinance institutions that promotes access to financial products and services. By supporting member organisations, ProDesarrollo contributes to the development of the microfinance sector. ProDesarrollo groups and represents a diverse range of industry players including academic institutions, individuals and microfinance practitioners with different credit methodologies in urban and rural areas of Mexico.

Pro Mujer
Pro Mujer is an international microfinance and women's development organization whose mission is to provide Latin America's poorest women with the means to build livelihoods for themselves and futures for their families through microfinance, business training, and healthcare support.

Silicon Valley Microfinance Network
The Silicon Valley Microfinance Network (SVMN) is a grass-roots organization for people in the SF bay area (and beyond) interested in learning about microfinance, microcredit, and related finance and economic topics. Our mission is to connect, educate and engage people in the field of microfinance by creating a forum for innovation and collaboration that leverages the Bay Area's unique expertise, thereby reducing global poverty.

Rating Agencies

The Rating Fund
The Microfinance Rating and Assessment Fund is a fund sponsored by the Intra-American Development Bank (IDB), CGAP (the Consultative Group to Assist the Poor) and the European Union to provide partial financing for microfinance institution (MFI) ratings and assessments by professional rating agencies. It was established to improve MFI performance, promote transparency, and the flow of funding resources to the microfinance industry. Over 350 rating reports are now publicly available on the Website.

Microrate
MicroRate rates microfinance institutions. Its objectives are to provide comparable, credible, timely information to prospective investors and creditors, to foster linkages between MFIs and domestic and international capital markets, and to stimulate financial deepening in emerging markets. Unlike conventional ratings MicroRate analyzes not only creditworthiness, but also the effectiveness of an MFI.

Planet Rating
Planet Rating offers objective evaluation and rating services to microfinance institutions and investors. Our primary goal is to help connecting investors with MFIs in need of additional funding for expansion. Planet Rating offers global coverage from its offices based in Paris, Beirut, Dakar, Lima, Manila and Nairobi.

ACCION International
ACCION International is a private, nonprofit organization with the mission of giving people the financial tools they need – microenterprise loans, business training, and other financial services – to work their way out of poverty. A world pioneer in microfinance, ACCION was founded in 1961 and issued its first microloan in 1973 in Brazil. ACCION International's partner microfinance institutions today are providing loans as low as $100 to poor women and men entrepreneurs in 22 countries in Latin America, the Caribbean, Asia and sub-Saharan Africa, and in the U.S.

Microfinanza Rating
Microfinanza Rating provides professional rating service to microfinance institutions (NGOs, savings & credit cooperatives, non-bank financial institutions, banks, second-tier financial institutions).

CRISIL
India's leading Ratings, Research, Risk and Policy Advisory company.

Micro Credit Ratings International
M-CRIL has emerged as the world leader in the rating of microfinance institutions (MFIs). By December 2006, M-CRIL had undertaken 395 ratings or assessments covering 244 microfinance institutions in 16 countries stretching from Georgia in the Caucasus to the Philippines in South-East Asia and Samoa.

Funds and Investment Vehicles

BlueOrchard
BlueOrchard Finance s.a. is a microfinance investment management company. Our mission is to promote private investments in projects and enterprises contributing to the sustainable development of micro-entrepreneurship in emerging economies.

ACCION Investments
ACCION Investments is a for-profit investment company designed to make equity and quasi -equity investments in MFIs in emerging markets, providing investors with the potential for both financial and social returns.

Oikocredit
Oikocredit is one of the largest financiers of the microfinance sector worldwide. Oikocredit is one of the few ethical investment funds that finances development projects in the South benefiting disadvantaged and marginalized people. Privately owned, Oikocredit is a unique cooperative society that encourages investors to invest their funds in a socially responsible manner.

MicroVest
MicroVest Capital Management, LLC provides debt and equity capital and management oversight to microfinance institutions (MFIs) in emerging markets. Founded by CARE, MEDA and the Seed Capital Development Fund, it is the first private equity microfinance investment firm in the U.S. MicroVest's goal is to expand the capacity of existing, profitable MFIs while building capital markets that work for the poor.

Dignity Funds
The Dignity Fund is a private investment fund formed to bring needed capital to the microfinance industry to fuel the social empowerment of the poor. The Dignity Fund specializes in providing smaller, financially viable, high growth microfinance institutions with catalytic debt capital.

Catalyst Microfinance Investors
Catalyst Microfinance Investors (CMI) is a private equity fund that invests in and intends to build a diversified portfolio of emerging, high-potential microfinance institutions (MFIs), selected and managed by a team of globally renowned microfinance practitioners and corporate finance specialists.

Gray Ghost Microfinance
The objective of the Gray Ghost Fund is to promote microfinance as a viable investment option through the development and management of a marketable portfolio of high performing MFI funds, each offering "double bottom-line" returns comparable with traditional capital markets.

responsAbility Fund
responsAbility Social Investments Ltd. is one of the world's leading social investments companies. With its investment products, responsAbility enables people in developing countries and emerging markets to have access to markets, information and other services important for their development in sectors such as microfinance, SME financing, fair trade and independent media. Private and institutional investors can thus contribute to positive social development and at the same time aim for a financial return in a professional manner.

Council of Microfinance Equity Funds
The Council of Microfinance Equity Funds (CMEF) is the first membership organization bringing together the leading private entities that make equity investments in microfinance institutions (MFIs) in the developing world.

Remittances

Asian Development Bank
The ADB's web site on workers' remittances intends to provide a space for the dissemination of information on this highly important subject. By acting as a source for better communication, it is the hope of ADB to bring much greater attention and analysis to this topic.

IBD Migrant Remittances
The Inter-American Development Bank (IDB), through its Multilateral Investment Fund (MIF), has developed a program on Remittances with the purpose of increasing the financial resources of those who receive remittances throughout the LAC' region, and to improve the developmental impact of these funds. Towards this end, the MIF has convened conferences, commissioned studies and surveys, and financed projects on the volume, transaction cost and the potential development impact of remittances.

UK Department for International Development
DFID's priorities with regards to remittances, are to improve access, transparency and choice for remittance senders and recipients, with lower costs and greater security. Remittances can therefore have an even greater impact on people on low incomes, and can better assist them improve their livelihoods and take advantage of opportunities. DFID also sees remittances as a key means of reducing financial exclusion.

World Bank
The World Bank is a vital source of financial and technical assistance to developing countries around the world. Working papers, abstracts, evaluations and datasets for on-going and completed World Bank research projects catalogued by topic and type of document can be found on the Data and Research site.

US Microfinance

Accion Texas
ACCION Texas is a nonprofit statewide loan fund committed to empowering diverse small businesses with limited access to traditional sources of credit. They strive to be a sustainable organization that contributes to the economic development of Texas by providing microloans and other services to their clients. Their mission is to provide credit to small businesses that do not have access to loans from commercial sources. Through its loans and services, ACCION Texas helps microentrepreneurs strengthen their businesses, stabilize and increase their incomes, create additional employment and contribute to the economic revitalization of their communities.

Aspen Institute
The Aspen Institute mission is twofold: to foster values-based leadership, encouraging individuals to reflect on the ideals and ideas that define a good society, and to provide a neutral and balanced venue for discussing and acting on critical issues.

The Aspen Institute does this primarily in four ways:

  1. Seminars, which help participants reflect on what they think makes a good society, thereby deepening knowledge, broadening perspectives and enhancing their capacity to solve the problems leaders face.
  2. Young-leader fellowships around the globe, which bring a selected class of proven leaders together for an intense multi-year program and commitment. The fellows become better leaders and apply their skills to significant challenges.
  3. Policy programs, which serve as nonpartisan forums for analysis, consensus building, and problem solving on a wide variety of issues.
  4. Public conferences and events, which provide a commons for people to share ideas.

The Institute is based in Washington, DC, Aspen, Colorado, and on the Wye River on Maryland's Eastern Shore and has an international network of partners

CFSI
The Center for Financial Services Innovation (CFSI) facilitates financial services industry efforts to serve underbanked consumers across the economic, geographic and cultural spectrum. CFSI's mission is to transform the U.S. financial services marketplace to help underbanked consumers achieve financial prosperity. As a nonprofit affiliate of ShoreBank Corporation, CFSI conducts research, supports pioneering solutions and strategies, and provides a hub for building cross-industry connections and partnerships for underbanked initiatives to succeed.

FEILD
The Aspen Institute's FIELD program (microenterprise Fund for Innovation, Effectiveness, Learning and Dissemination) identifies, develops and disseminates best practices in the U.S. microenterprise field, and works to educate funders, policy makers and others about microenterprise as an anti-poverty strategy. FIELD produces comprehensive reviews of industry practice, evaluates new ideas and strategies, makes targeted grants to innovative projects, facilitates peer learning among industry leaders, and manages the performance measurement program for the U.S. industry, MicroTest.

Grameen America
Grameen America is a not-for-profit microfinance institution whose mission is to alleviate poverty by providing affordable micro-loans to financially empower low-income entrepreneurs in the United States. In addition to microloans, Grameen America promotes credit building, savings growth and financial literacy among borrowers. The organization aims to create a community where any individual with a dream can receive affordable financial products regardless of income, previous credit history, education or business experience.

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